The past year has been marked by a wide-range of new product, company and marketing advances. Thirteen new companies were established, of which eight fall under the umbrella of our TEIC subsidiary. This brings the number of active firms in the Dimotech Group to 48. Five companies obtained the financial backing required, through strategic partnerships and second round investments, to enable them to set up their own premises. We have come a long way since Dimotech was first established in 1985, to foster the commercialization of Technion projects. At the time, it was considered almost experimental for a university to attempt to transfer technology through establishing and nurt uring start-up companies. Since then, it has become an accepted - and a successful - practice. That universities will be relying more and more on the revenues and profits produced by the start-up companies has become evident in the US, and is being recogn ized world wide. These companies, which often involve faculty members as principals, board members, founding shareholders, advisors and/or consultants, and in which the university may hold stock, are proving an excellent investment in the future of techno logy. This issue of the Dimotech News presents our newest companies, and some of the latest developments. In addition, we focus on one of our leading researchers, Prof. Ella Lindenbaum, who has been working on reducing and eliminating unsightly scars, and is no w also holding out hope for the prematurely bald.

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Prior to his involvement in TEIC, Lowenstein was the managing director of two companies in the fields of computer systems and software development, and was Vice President for Marketing at an Israeli high-tech company. Lowenstein, who was born in Israel, graduated from the Hebrew University in Jerusalem, and holds an MBA from New York University Graduate School of Business Administration.